Naomi Simson: Brief Overview
In this report, an attempt is made to analyse an Australian Entrepreneur who have accomplished success in business venture. Entrepreneurship is a method of scheming and operating a business in the unique way to gain profits in the most effective manner. Entrepreneur is an individual who commenced a business operation that usually assisted by small amount of fund that is the capital of the business to run the whole operation of the business. Naomi Simson is one of the brightest entrepreneurs in Australia. She commenced her entrepreneurship journey in 2001 with a second hand computer and $ 25,000 to start Redballon that is a retailer of gift that is based in Australia. These have served more than 3.5 million customers. She was in the list of Top 30 entrepreneurs female in Australia on the year of 2016.
Figure 1: Red balloon
(Source: red balloon.com)
Naomi Simson born on 1964 in Australia is a founding director of Redballon venture that is based on Online retailing of gifts that is established in Australia. This is under the Big Red Group that is the parent company of Redaballon and this operates under them. She has received various kinds of awards like Lifetime Achievement silver Stevie Award on the year of 2013 (Schaper et al. 2014). She is known by a range of tags like entrepreneur, business person, speaker, influencer, blogger, author and innovator. She has wrote various books like Ready to Soar, I want what she’s having, and Live what you love. She is a judge and an enthusiastic investor in the TV show of Shark Tank in the Channel Ten. Before starting Redballoon she worked with big businesses like KPMG, IBM, Ansett Airlines and Apple in the field of Marketer in the corporate world.
The traits of a thriving entrepreneur are to achieve the set targets and goals on time. There are assortments of characteristics that possessed by an entrepreneur for commencing a business and running it successfully like:
- Motivation and passion for the work and task will decide the triumph of the business. The dedication and going an extra mile is very much required to grow the operations of the company and earn profits. Naomi Simson always works hard enough to complete the task in hand at the most effective manner.She is passionate and dedicated to her company (Azmat and Fujimoto 2016).
- Creativityis the chief driver for the term entrepreneurship and new businesses requires doing the job by applying a new innovative method to complete the task at most efficient manner possible. Naomi Simson is an influencer and innovator in the world of business. She is also very enthusiastic judge and investor in TV show broadcasted in Channel Ten.
- Tolerating of riskin the business is the toughest and bravest character that of an entrepreneur to posses. The future of any new venture is uncertain but there should be a self-belief and appropriate work is in line to achieve the goals in time. Naomi Simson has received various awards in her lifetime. These awards are usually given to praise the businessperson for taking of the risks and for making the world an admirable place to subsist (Ratten and Dana 2015).
- Dynamism is the best way to do business in this present condition. The adaptability to new changes in the elements of business and flexibility in accepting the new changes in the business and also gathering inputs for the business betterment. Naomi Simson started Redballoon that is established in online retail industry that requires adapting to the changing rules of the world of business.
The process of recognition of opportunities that a businessperson like Naomi Simson is well understood about the corporate world so she was unable to persist with her job in highly promising future with a good salary package and perks that usually fulfils the desires of an employee. She acknowledged the fact that she worked as a marketer in big companies like Apple, IBM, etc. Now, she owns various types of businesses like RedBalloon that online retail for gifts. The acknowledgment opportunities she gained many triumphs in her company. She has an opportunity of branding and selling the brilliant gifts in the e-market by applying her expertise knowledge of the field of marketer (Alaslani and Collins 2017). The opportunity should be combined with possessions she can invest to gain the maximum and run the business for long run as effectively as possible. This is detected that the company RedBalloon facilitates a solitary dais by advertising and bringing in concert of companies in a group that delivers experiences. Now, she can connect the dots just by looking at the past as observing changes in markets, demographics and technology in the industry. This is dedicatedly utilized for her own benefits and gains.
Traits of a Thriving Entrepreneur
The process of idea development is vital for the entrepreneur for the business to triumph. Naomi Simson similar to any entrepreneur had to endure a procedure when creating her venture proposal. At first, she acknowledges a prospect in a market that was created that to be known as RedBalloon. She then assessed the proposal or thought and inspects if this fulfils the requirements of her consumers. She initially created making an investment in a website for $ 25,000. She advertised the company RedBalloon in the most innovative manner by tying to a briefcase. She walks all the places in Sydney by hoping websites link to be visible to the public. After few sale of her products, she used to receive the calls by acting as a call centre for receiving the direct feedback from the customers (Maritz 2015). Later on Naomi Simson found an expert web developer who did the entire web-developing job on casual basis and he was the first employee of the company from the initial stage. In the initial years of the company, they have to persuade and beg for business with suppliers. The initial years were tough times for Naomi Simson as for the suppliers this online retailing was new concept that required time for them the concept and adapt to this new version of retailing. Additionally, because of her earlier experience in the work and communications was capable of having corporate clients.
Naomi Simson has founded the company RedBalloon with a second hand computer and $ 25,000 as capital from her home. She shifted her from home to a new building as the number employees got increased to more than the capacity of her house. The company RedBalloon is retail shop based in online to sell their gift vouchers for an array of experiences. Starting from spa dates to skydiving provided by the company just fulfil the desires and tastes of all type of customers (Maritz et al. 2015). She made the company just exclusively for retailing purposes but it got wider to provide everything possible in one place. Naomi Simson is the brightest entrepreneur and a businessperson who knows to appreciate the loyal customers of RedBallon by providing them vouchers for free just for their loyalty. This voucher is given to the employees of RedBalloon for their work in the company. She also praises a tactics of creating a bond with key companies that composed of trustworthy brands. Therefore, it is detected that Naomi Simson’s key target market is big corporate and her secondary targets are the customers who desires for to have experience as a gift that is an alternative (Chow 2015). The good reputation in the market is due to the big corporate companies as its clients. The customers will observe the company to be trustworthy brand to transact. The reputation is earned this usually not demanded or bought from any market place in the globe. Redballoon divided the operations into two parts, in one it carries’s on to sell experiences and in the other is a gift-wrapped product like flowers and handbags that will be delivered in physical.
Idea Development is Vital for Entrepreneurship
Competitive gain is a stage where the company is ahead than most or all the players or competitors in the market to endow with a service or a good that are inimitable in its own ways. Naomi Simson has started and founded the company named RedBalloon has competitive gains as it provides experiences that are offered by very few companies in the world. Naomi Simson’s company has a superior positioning in the market that is uncontested because of their excellent work done by RedBalloon. They fulfil all type desire and needs of their clients to give them the great experience with the RedBalloon. The employee of this is self-motivated as they share the same mission and vision in their life to provide great experience to the customers (Ramadani 2017). They have a great culture in their workplace. This site is updated from time to time to develop it be more customer friendly interface for their clients. This company is stands tall than other in the same is due the service and goods provide at affordable rates and experience is the top notch that is the most vital for the company like RedBalloon as they never compromise with their quality.
Naomi Simson is one the female who was listed in top 30 entrepreneurs in Australia. She runs a business that is the most trustworthy plus has good reputation in the market. It is advisable to hold the reputation of the company RedBalloon and make this venture more profitable by associating the brand with more credible brands in the market.
Naomi Simson is an enthusiastic investor and judge in a show of Channel Ten where she is an angel investor. She can select a good business that is most appropriate to linked with her company RedBalloon and it most likely to succeed in the future with little bit of risk. That might enhance the RedBalloon’s experiences to new highs for its clients.
Alaslani, M. and Collins, J., 2017. The Blocked Mobility Hypothesis and Muslim Immigrant Entrepreneurship in Sydney, Australia. Review of Integrative Business and Economics Research, 6(3), p.333.
Azmat, F. and Fujimoto, Y., 2016. Family embeddedness and entrepreneurship experience: A study of Indian migrant women entrepreneurs in Australia. Entrepreneurship & Regional Development, 28(9-10), pp.630-656.
Chow, G., 2015. Key factors and forces that shaped the baby-boomer generation of ethnic Chinese entrepreneurship in Australia (Doctoral dissertation, SWINBURNE UNIVERSITY OF TECHNOLOGY).
Maritz, A., 2015. Senior entrepreneurship in Australia: an exploratory approach. International Journal of Organizational Innovation (Online), 7(3), p.6.
Maritz, A., Jones, C. and Shwetzer, C., 2015. The status of entrepreneurship education in Australian universities. Education+ Training, 57(8/9), pp.1020-1035.
Ramadani, V., 2017. Alex Maritz is an Associate Professor of Entrepreneurship and Innovation at Swinburne University of Technology, Melbourne, Australia. Alina M. Zapalska is the Professor of Economics and Director of the Honors Program at the US Coast Guard Academy, where she teaches Economics since 2005. Her extensive and varied teaching experience spans 30 years in the US and. Entrepreneurship and Management in an Islamic Context, p.243.
Ratten, V. and Dana, L.P., 2015. Indigenous food entrepreneurship in Australia: Mark Olive'Australia's Jamie Oliver'and Indigiearth. International Journal of Entrepreneurship and Small Business, 26(3), pp.265-279.
Schaper, M.T., Volery, T., Weber, P.C. and Gibson, B., 2014. Entrepreneurship and small business.
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